Number of banks reached 13.0 banks in 2019 in Mongolia, according to the National Central Bank. This is 7.14 % less than in the previous year.
Historically, number of banks in Mongolia reached an all time high of 16.0 banks in 2004 and an all time low of banks in. When compared to Mongolia's main peers, number of banks in China amounted to 193 banks, 27.0 banks in Kazakhstan, 24.0 banks in Kyrgyzstan and 402 banks in Russia in 2019.
Mongolia has been ranked 109th within the group of 140 countries we follow in terms of number of banks, 6 places above the position seen 10 years ago.